Gold ETF (GLD) Hits New 52-Week High
For investors seeking momentum, SPDR Gold Shares GLD is probably on the radar. The fund just hit a 52-week high and is up 39.79% from its 52-week low price of $206.29/share.But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:GLD in FocusThis ETF is designed to track the spot price of gold bullion. The iShares Gold Trust reflects the performance of the price of gold bullion, less expenses. The product charges 40 bps in annual fees (See: All Precious Metals ETFs).Why the Move?Gold has been an area to watch lately, given the rise in volatility and increased safe-haven demand driven by the anticipated U.S. tariff threats and escalating geopolitical tensions. The likelihood of the Fed reducing interest rates this year further supports the rally in gold prices, boosting the fund’s prospects. Central banks’ increasing purchases of the precious metal have also boosted gold prices.More Gains Ahead?Currently, GLD has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. However, it might continue its strong performance in the near term, with a positive weighted alpha of 38 (as per Barchart.com), which gives cues of a further rally.Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SPDR Gold Shares (GLD): ETF Research ReportsThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks
